Job 139 39,200 3,400 103,200 25,500 Job 140 Total direct labor Indirect labor Total labor cost $ 128,700 d. Applied overhead to Jobs 136, 138, and 139. e. Transferred Jobs 136, 138, and 139 to Finished Goods Inventory. f. Sold Jobs 136 and 138 on credit at a total price of $545,000. g. Recorded the cost of goods sold for Jobs 136 and 138. h. Incurred the following actual other overhead costs during the month. Depreciation of factory building Depreciation of factory equipment Expired factory insurance Accrued property taxes payable $ 70,000 37,500 12,000 36,500 i. Applied overhead at month-end to the Work in Process Inventory account (for Job 137 and 140) using the predetermined overhead rate of 200% of direct labor cost. Required: 1. Prepare a job cost sheet for each job worked on during the month. Job Number 136 Job Number 137 Job Number 138 Job Number 139 Job Number 140 Materials Labor Overhead Total cost $ 2$ 2$ $ 2$

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Job 139
39,200
3,400
Job 140
Total direct labor
103,200
Indirect labor
25,500
Total labor cost
$ 128,700
d. Applied overhead to Jobs 136, 138, and 139.
e. Transferred Jobs 136, 138, and 139 to Finished Goods Inventory.
f. Sold Jobs 136 and 138 on credit at a total price of $545,000.
g. Recorded the cost of goods sold for Jobs 136 and 138.
h. Incurred the following actual other overhead costs during the month.
Depreciation of factory building
Depreciation of factory equipment
Expired factory insurance
Accrued property taxes payable
$ 70,000
37,500
12,000
36,500
i. Applied overhead at month-end to the Work in Process Inventory account (for Job 137 and 140) using
the predetermined overhead rate of 200% of direct labor cost.
Required:
1. Prepare a job cost sheet for each job worked on during the month.
Job Number 136
Job Number 137
Job Number 138
Job Number 139
Job Number 140
Materials
Labor
Overhead
Total cost
$
$
0 $
24
Transcribed Image Text:Job 139 39,200 3,400 Job 140 Total direct labor 103,200 Indirect labor 25,500 Total labor cost $ 128,700 d. Applied overhead to Jobs 136, 138, and 139. e. Transferred Jobs 136, 138, and 139 to Finished Goods Inventory. f. Sold Jobs 136 and 138 on credit at a total price of $545,000. g. Recorded the cost of goods sold for Jobs 136 and 138. h. Incurred the following actual other overhead costs during the month. Depreciation of factory building Depreciation of factory equipment Expired factory insurance Accrued property taxes payable $ 70,000 37,500 12,000 36,500 i. Applied overhead at month-end to the Work in Process Inventory account (for Job 137 and 140) using the predetermined overhead rate of 200% of direct labor cost. Required: 1. Prepare a job cost sheet for each job worked on during the month. Job Number 136 Job Number 137 Job Number 138 Job Number 139 Job Number 140 Materials Labor Overhead Total cost $ $ 0 $ 24
!
Required information
[The following information applies to the questions displayed below.]
Watercraft's predetermined overhead rate is 200% of direct labor. Information on the company's
production activities during May follows.
a. Purchased raw materials on credit, $220,000.
b. Materials requisitions record use of the following materials for the month.
$ 48,500
33,000
19,800
23,200
7,000
Job 136
Job 137
Job 138
Job 139
Job 140
Total direct materials
131,500
20,000
$ 151,500
Indirect materials
Total materials requisitions
c. Time tickets record use of the following labor for the month. These wages were paid in cash.
$ 12,200
10,700
37,700
39,200
3,400
103,200
Job 136
Job 137
Job 138
Job 139
Job 140
Total direct labor
25,500
$ 128,700
Indirect labor
Total labor cost
Annlia urhand t
Labe 126
120
and 120
Transcribed Image Text:! Required information [The following information applies to the questions displayed below.] Watercraft's predetermined overhead rate is 200% of direct labor. Information on the company's production activities during May follows. a. Purchased raw materials on credit, $220,000. b. Materials requisitions record use of the following materials for the month. $ 48,500 33,000 19,800 23,200 7,000 Job 136 Job 137 Job 138 Job 139 Job 140 Total direct materials 131,500 20,000 $ 151,500 Indirect materials Total materials requisitions c. Time tickets record use of the following labor for the month. These wages were paid in cash. $ 12,200 10,700 37,700 39,200 3,400 103,200 Job 136 Job 137 Job 138 Job 139 Job 140 Total direct labor 25,500 $ 128,700 Indirect labor Total labor cost Annlia urhand t Labe 126 120 and 120
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